Temasek, EDBI invest US$50m in life sciences fund

Singapore

AS part of efforts to strengthen Singapore's position as the biomedical sciences hub in Asia, the corporate investment arm of the Singapore Economic Development Board (EDB), EDBI, and Singapore investment firm, Temasek, have invested US$50 million into a life sciences fund.

The two have partnered Lightstone Ventures, a venture capitalist firm focusing on life sciences companies. Lightstone Ventures has set up a wholly owned subsidiary, Lightstone Singapore Pte Ltd, to source, fund, catalyse commercialisation and build Singapore-based life sciences firms.